Many Idea Cloud Shareholders to Vote on Share Consolidation on Feb. 10

MT Newswires Live01-22

Shareholders of Many Idea Cloud (HKG:6696) will meet Feb. 10 to vote on a 20-for-1 share consolidation plan, a Tuesday bourse filing said.

The marketing services provider is proposing to consolidate every 20 issued and unissued existing shares of par value HK$0.0001 each into one consolidated share of par value HK$0.002 apiece.

Following consolidation, the firm will have an authorized share capital of HK$1 million divided into 500 million consolidated shares, 68 million of which will be in issue.

The company is also proposing to increase its authorized share capital to HK$2 million divided into 1 billion shares of HK$0.002 each by creating 500 million additional consolidated shares.

The board lot size for trading is also proposed to be changed to 1,000 consolidated shares from 2,000 existing shares.

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